Russia to control food prices by retailers, suppliers after import ban

Medvedev instructed the government to start monitoring the commodity markets and price levels on a daily basis

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ITAR-TASS/Yuri Belinsky

MOSCOW, August 12. /ITAR-TASS/. Russian authorities will control food prices both by retailers and suppliers in an effort to prevent rapid price growth following a ban on produce from Western countries.

Market regulations were discussed on Tuesday at a meeting of a government commission for food market monitoring and rapid response to changing conditions on food markets, chaired by Russian Deputy Prime Minister Arkady Dvorkovich.

The ban, introduced last week, bars imports of meat, fish, dairy, fruit and vegetables from the United States, the European Union, Canada, Australia and Norway in retaliation for sanctions imposed by those nations over events in Ukraine.

Announcing the ban at a cabinet meeting on August 7, Prime Minister Dmitry Medvedev said the ban would not apply to children’s food or products bought abroad by private individuals.

Medvedev instructed the government to start monitoring the commodity markets and price levels on a daily basis.

“The Ministry of Agriculture, the Ministry of Economic Development, the Ministry of Industry and Trade and the Federal Anti-Monopoly Service shall enhance their cooperation with retail chain representatives and producers,” he said.